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Category: Tax

Tax on Mutual Funds

September 22, 2022September 19, 2022Selena Whitehead0

If you own mutual funds, you need to know how to pay taxes on them. There are two kinds of taxes you will incur: capital gains and ordinary income. Capital gains are taxes you’ll pay on the profit you make from selling your mutual fund shares. When you sell your mutual funds, you’ll receive a […]

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Does Every Loan Have Tax Implications?

August 18, 2022August 19, 2022Selena Whitehead0

If you’re considering taking out a loan for a family member, you should know that not all loans have tax implications. However, there are some circumstances where a loan might be considered taxable, including the loaned money. You need to make sure that the loan is legal, enforceable, and the terms and conditions are clear. […]

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How Taxation Affects Small Businesses

October 2, 2021October 11, 2021Selena Whitehead0

A tax is any required financial liability or any type of legal levy paid to a government agency in return for the privilege of using public resources. A person may be charged a tax for various reasons like purchasing or leasing property, paying income taxes, contributions to organizations, or for filing an annual return. A […]

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Important Information About Income Tax in the United States

August 21, 2021August 24, 2021Selena Whitehead0

A tax is an obligation or a financial charge levied upon a citizen by a government agency in order to finance public expenditure and various personal expenses. A person may be charged with tax either for income or for assets. evasion or non-payment of tax, and therefore, resistance to or disobedience to tax, is punishable […]

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Tax Planning and Liability

July 28, 2021August 3, 2021Selena Whitehead0

Taxation is an unavoidable financial burden or any other sort of levy imposed upon a taxpayer by a government agency in order to finance various public projects and government spending. A taxpayer may be liable for tax on income, assets or savings and must pay the amount in accordance with the prescribed rates. The amount […]

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Corporate Tax Rates Explained

June 22, 2021June 28, 2021Selena Whitehead0

A tax is any monetary charge or tax levied on an individual by a government body so as to finance various public needs and expenditures and also for the payment of tax-related taxes. A person may be charged a tax for one, multiple or even a combination of transactions. evasion of or refusal to pay […]

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Types of Tax Systems Available For Individuals and Businesses

May 26, 2021May 30, 2021Selena Whitehead0

A tax is an obligation or financial burden imposed upon a taxpayer by an administrative body or a government agency, so as to fund governmental spending and various other public expenditures. A person not exempt from taxation is liable to pay the tax. The tax rate may be progressive or regressive. A tax evader is […]

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Capital Gains Tax – Unearned Income Tax Treatment

April 27, 2021May 3, 2021Selena Whitehead0

Capital Gains Tax, otherwise known as CGT, is a kind of tax that is payable on certain gains realized in the year. It is calculated by subtracting the current gain from the current loss. The amount of capital gain that is realized is subject to certain limitations set by the HMRC. Usually, a standard rate […]

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How to Prepare Your Home Tax Return

November 7, 2020Selena Whitehead0

The first step to take if you are looking for a work from home job is to prepare and file tax returns. Most people will want to have their income and expenses properly prepared, as well as their business expenses. They can do this by using a work at home tax software program. If you […]

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Opportunities to Save on Taxes No Matter Who Wins the Election – Part 2

November 7, 2020Selena Whitehead0

There are a lot of options to save on taxes, no matter who wins the election this year. The main difference is whether or not you are paying for an Individual Tax Deduction or a Business Tax Deduction. The first one is for people that live in their home and hire other people to work […]

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